The main trend of this crypto-currency remains neutral-bullish and Cardano is targeting $0.10
Transaction volumes of this crypto-currency are expected to increase
Cardano is constantly adding new customers, but there is still a certain amount of uncertainty regarding the project
Most of the major crypto-currencies have advanced in the course of the further course of the US presidential elections, whose winner has not yet been officially announced. Joe Biden has a good chance of becoming the 46th president, and the camp around Biden hopes that they will cross the 270 threshold today.
Basic analysis: Cardano Prize is supported after the elections do not show a clear winner
Investor attention is currently focused on the U.S. presidential elections, and Cardano’s share price is also rising despite the ongoing election uncertainty. The U.S. presidential election remains tense, and according to the latest news, Biden is improving his position in Michigan and Wisconsin.
The price of Cardano (ADA) has risen from $0.088 to $0.096 in less than 24 hours and the current price is around $0.095. The main trend for this crypto currency remains neutral-bullish, and Cardano (ADA) is targeting $0.10 as the bullish trend continues.
It is also important to note that Cardano’s price is correlated with the price of Bitcoin, and investors in this crypto currency should also have Bitcoin on their “watch list”. Bitcoin has risen above $14000 again, and some analysts believe that BTC could trade even higher in the coming days.
This is good news for the price of Cardano, and this month could be very important for the future price of this crypto currency.
Cardano is a completely open source, representing identity, value and governance in a single platform. Cardano has its own crypto-currency known as ADA, and analysts say this project could deliver more advanced features than any previously developed project.
The transaction volumes of this crypto-currency are expected to increase and the customer base is expected to grow. Once this happens, the price of this crypto currency will be at a much higher level and Cardano (ADA) could become one of the best players in the crypto currency market in the coming period.
Cardano is already associated with various payment programs, but one of the factors to consider before deciding for or against purchasing this crypto currency is the competition Cardano faces from other similar projects. Investors in Cardano should keep in mind that it is still a very risky crypto currency, but now might be a good time to trade with Cardano (ADA).
Technical Analysis: Bulls focus on breaking through the resistance level at $0.10
The main trend for this crypto currency remains neutral-bullish and Cardano (ADA) is targeting the $0.10 level as the bullish trend continues.
Data source: tradingview.com
On this diagram I have marked important resistance and support levels. The important support levels are $0.09 and $0.08, $0.10 and $0.12 represent the resistance levels. If the price jumps above $0.10, it would be a signal to buy Cardano (ADA) and we have the open path to $0.11.
A rise above $0.12 supports the continuation of the bullish trend for Cardano (ADA) and the next price target could be $0.15. On the other hand, it would be a “sell” signal if the price falls below $0.09 and we have the open path to $0.080.
The crypto-currency market is rising amidst great uncertainty about the outcome of the U.S. presidential election in 2020. Joe Biden has a good chance of becoming the 46th president, and the camp around Biden hopes to pass the 270 threshold today. If the price jumps above $0.10, it would be a signal to buy Cardano (ADA) and we have the open road to $0.11.